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Regular Contributor
Posts: 178
Registered: ‎04-30-2012
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Another-"Can I get approved?" Thread. Sorry!

I make $100,000 a year, have a house payment of $2200, a credit card with $2300 out of $2700 on it, and thats it.  My Transunion is 650, and my Equifax is 655.  Can I get approved for a $20k car with 0 down?  I need a car ASAP....like tomorrow.  Any help you could provide would be appreciated!


Starting Score:2/1/16 565
Current Score: 3/1/16 575
Lender Mid Score: 3/1/16 575

Goal Score: 700


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Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
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Re: Another-"Can I get approved?" Thread. Sorry!

Is this your first auto loan? Curious as to why you are maxed out with your income and no funds for a down. What kind of mo pyt can you afford?
Frequent Contributor
Posts: 314
Registered: ‎12-29-2010
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Re: Another-"Can I get approved?" Thread. Sorry!

If you could pay your CC down to below 9%, you would see a huge bump and would improve your chances. That is if you can do that. 

 

 


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Valued Contributor
Posts: 1,517
Registered: ‎09-14-2012
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Re: Another-"Can I get approved?" Thread. Sorry!

As Lexie said I have to wonder about the maxed out card and $100k income with no down payment.  Those look like red flags to a lender

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Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: Another-"Can I get approved?" Thread. Sorry!


sccredit wrote:

As Lexie said I have to wonder about the maxed out card and $100k income with no down payment.  Those look like red flags to a lender


+1

 

Get a rentat car and pay off that credit card.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Epic Contributor
Posts: 29,095
Registered: ‎10-23-2007
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Re: Another-"Can I get approved?" Thread. Sorry!

New or used?
What kind of car?
Regular Contributor
Posts: 178
Registered: ‎04-30-2012
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Re: Another-"Can I get approved?" Thread. Sorry!

Well, I applied and got approved through Capital One.  Bought a brand new Fusion for $21k out the door.  I paid off my credit card today, and now i'm good to go! 

 

I got 3.5% for 72 months with a payment of $334.

 

Not too bad!

 

Thanks for your insight, it is appreciated!! 

 

I freaked out because I wanted to app the day my card had a balance on it.  I figured if I paid that day, it wouldn't process for a day or two...I needed a car NOW!!! LOL!

 

Thanks all!


Starting Score:2/1/16 565
Current Score: 3/1/16 575
Lender Mid Score: 3/1/16 575

Goal Score: 700


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Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
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Re: Another-"Can I get approved?" Thread. Sorry!

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